This Letter of Credit is transferable and constitutes an obligation to make payment against documents. 

  

 1Except as provided above, this Letter of Credit is issued subject to the Uniform Customs and
Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publication No. 500 and is governed by New York law. Unless you otherwise require, any disputes arising out of or in connection with this letter of credit shall be
resolved before the United States District Court for the Southern District of New York and any New York State court sitting in the County of New York, New York, and all related appellate courts. 

  

 All bank charges, including, but not by way of limitation, fees or commissions, shall be for
the applicant’s account. 



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| 1 | Alternatively where bank wants to use ISP 98: Except as provided above, this Letter of Credit is issued subject to the International Standby Practices 1998 and is governed by
New York law. Unless you otherwise require, any disputes arising out of or in connection with this letter of credit shall be resolved before the United States District Court for the Southern District of New York and any New York State court sitting
in the County of New York, New York, and all related appellate courts.  |

  


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